plan to tax the windfall profits of the largest oil companies.
Democrats on Tuesday failed, 51-43, to get the 60 votes needed
to overcome a GOP filibuster of the energy package, and bring the
bill up for consideration.
Democrats said the huge profits enjoyed by the largest U.S. oil
companies should be reined with motorists paying more than $4 a
gallon for gasoline and oil prices soaring well beyond $100 a
barrel. But Republican critics said higher taxes on oil companies
would increase - not lower - gasoline prices and reduce the
incentive for domestic oil exploration and production.
News 5 first reported this story as BREAKING NEWS on wkrg.com.
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(Copyright 2008 by The Associated Press. All Rights Reserved.)
Exxon Mobil Gusher: $14.8B Profit










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rosepetal you are correct,that is why they say it will take ten years to export oil from alaska,the rockefellers no how to slow down this process in this fast pace world,nothing will be done untill we have unity of the people and their is not much chance of this happening,i think the last time that happened was in the days of nixon and it worked,i would like to see it again.